5 Benefits of Selling a House for Cash When You Are the Trustee of the Trust
As a trustee, you are responsible for administering an estate or property on behalf of a beneficiary. You also have a duty of care to the beneficiary, implying you have to make the right decisions to safeguard their interests. All over California in Los Angeles, The San Francisco Bay Area, and even San Diego.
In some cases, the beneficiary may be in financial distress, calling for quick and decisive action. The options available to you, as a trustee, include selling through an agent or For Sale By Owner (FBSO). These two options can’t offer a quick solution for the following reasons:
- The agent is in control of the negotiations
- The complex process of inspection
- Dealing with multiple contractors to get the house ready
- Finding the right agency and associated agency fee
Let’s explore the benefits of selling your property as-is for cash.
- NO NEED TO CONDUCT REPAIRS
If you take the agent route, you’ll need preparations to get the house ready for viewing and photo sessions, leading to suitable offers. Some common preparations include conducting repairs on the floor, roofing, kitchen, outdoors, and de-personalizing.
As a trustee, the property at hand may be ruined or damaged, calling for considerable investment to get the house in good shape. According to Forbes advisor, it can cost you up to $6,000- $10,000 per room to repair a damaged floor. The aggregate cost of repairs may rise to over $100,000 when you factor in all aspects.
As such, it’s advisable to work with cash buyers who conduct a general inspection of the home to understand its value. Selling your house to cash investors also eliminates the risk of failing to recover your preparation cost from the available offers.
- QUICK LIQUIDITY
Typically a house that is in bad shape will sell slower than a well-maintained one. Therefore, it’s prudent to find a solution that can deliver a sale quicker.
The cash buying process involves a simple inspection and takes a few days. It’s, therefore, an ideal solution for financially distressed sellers — in need of cash to take care of medical emergencies, top-up for an alternative property, or cater for unforeseen cash needs.
- GIVES YOU PEACE OF MIND
It’s the joy of any property owner in Los Angeles to sell a home quickly with minimal investment and hustle. However, it’s hardly the case when you consider dealing with agents, multiple buyers, and the associated marketing cost.
Below is a list of stressors you can avoid by selling an inherited home for cash in Los Angeles.
- Open House Days: Selling a house through an agent or the owner requires open days to showcase its features. Hosting such events comes with preparation costs, security risks, and disruptions in your daily schedule.
- Sellers Health Condition: Sellers sometimes go through emotionally and physically draining aspects like grief, illness, or job loss. Financial obligations continue to pile up despite such conditions, which is why you may need an alternative process— cash selling— where your input is barely required.
- Unreliable Agent: You can sign up with an agent who doesn’t understand the market well, affecting a favorable deal. Consequently, you may be forced to delist their services at a fee and find a better alternative.
Selling your house to cash investors, therefore, eliminates such inconveniences, thereby giving you peace of mind.
- ELIMINATES DELAYS
Selling a house is a lengthy and laborious process. It also involves multiple parties whose interests must correspond to strike a deal. There are several delays associated with the actions of buyers, sellers, and service providers.
Here’s a list of the possible causes of delay you can encounter on the way:
- Lending Process: Most home buyers utilize credit facilities like a mortgage to finance the sale. The process is complicated as it involves a list of documents and fulfilling bank conditions to get the funds. Besides the typical preparation, the lending process can increase the waiting period by 2-4 weeks.
- Irrational Buyers: A buyer who had committed to buying a property can suddenly decline to acquire the home. The seller then has to seek legal redress or find a new buyer, requiring more time, preparation, and investment.
- Contractors Delays: Pre-sale preparation requires a facelift, which is why you need contractors. Being a third party, you have minimal control over how quickly and efficiently they dispense their duties.
Cash buyers are liquid investors who don’t approach banks every time they seek to acquire property. The quick assessment process helps them make a quick decision on the worth of a house — eliminating instances of offer withdrawal.
- CASH PROCESS IS QUICK AND SIMPLE
Simplicity is one of the advantages of the cash process. You can just make a phone call or send an email to start the process. It means you don’t have to constantly check on the realtor for progress or host multiple open houses.
Negotiation in the traditional sales process requires time, skill, and experience to deal with persistent customers. On the contrary, a cash buyer uses an internal evaluation mechanism to extend an offer that you can accept, decline, or request an adjustment.
Here’s a breakdown of the Seller’s Advantage cash sale process:
- Fill out the contact form or give us a call
- Schedule a home inspection with us
- Accept an offer and close within days
The traditional method of selling a home through an agent can take up to 8 weeks, coupled with expenses, preparations, and anxiety. To that end, it pays to embrace a three-step cash process that takes a maximum of three weeks.
REACH OUT TO SELLER’S ADVANTAGE FOR A QUICK CASH OFFER
As a trustee, making the right decision for your beneficiary includes selling the property for cash. It’s essential to find a quick and straightforward solution that can cater to your beneficiary’s emergency needs and make a responsible trustee.
That said, Seller’s Advantage is here to help you get the perfect cash offer for your home. We have a simple and straightforward process, including an A+ rating from the BBB, which guarantees that you’ll receive top-quality service from us. Contact us today to get a no-obligation quote to sell my house fast Los Angeles.